Casella Waste Systems, Inc. (NASDAQ:CWST – Get Free Report)’s share price traded down 4.3% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $77.16 and last traded at $78.79. 428,666 shares traded hands during mid-day trading, an increase of 47% from the average session volume of 290,658 shares. The stock had previously closed at $82.37.
The industrial products company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $289.65 million for the quarter, compared to analysts’ expectations of $301.93 million. Casella Waste Systems had a net margin of 4.71% and a return on equity of 11.61%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS.
Wall Street Analyst Weigh In
Several equities analysts recently commented on CWST shares. StockNews.com began coverage on shares of Casella Waste Systems in a report on Thursday, May 18th. They set a “hold” rating on the stock. Bank of America increased their price target on Casella Waste Systems from $79.00 to $89.00 in a report on Monday, May 1st. UBS Group upped their price objective on Casella Waste Systems from $105.00 to $110.00 in a research report on Thursday, June 15th. Finally, Stifel Nicolaus lifted their target price on Casella Waste Systems from $94.00 to $103.00 in a research report on Monday, May 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Casella Waste Systems presently has a consensus rating of “Moderate Buy” and an average target price of $97.40.
Institutional Trading of Casella Waste Systems
A number of hedge funds have recently added to or reduced their stakes in the business. TD Capital Management LLC purchased a new stake in shares of Casella Waste Systems during the 1st quarter worth $25,000. Signaturefd LLC boosted its holdings in shares of Casella Waste Systems by 34.1% in the 1st quarter. Signaturefd LLC now owns 448 shares of the industrial products company’s stock valued at $37,000 after buying an additional 114 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Casella Waste Systems by 42.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 475 shares of the industrial products company’s stock worth $36,000 after buying an additional 141 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of Casella Waste Systems by 1,364.9% during the 1st quarter. Manchester Capital Management LLC now owns 542 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 505 shares in the last quarter. Finally, Heritage Wealth Advisors purchased a new stake in Casella Waste Systems during the fourth quarter valued at approximately $58,000. 96.69% of the stock is owned by hedge funds and other institutional investors.
Casella Waste Systems Trading Down 4.0 %
The company’s 50 day simple moving average is $88.79 and its two-hundred day simple moving average is $84.65. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 80.54, a P/E/G ratio of 4.71 and a beta of 0.91. The company has a quick ratio of 1.20, a current ratio of 1.29 and a debt-to-equity ratio of 1.15.
About Casella Waste Systems
Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.